Is Europe`s Finanical And Debt Crisis A Glimpse Of What America Will Soon Have To Face?

Is Europe’s Crisis A Glimpse Of America’s Future? -- Michael Sivy, Time

The problems caused by rising debt are fundamentally different in the U.S. from those in Europe, but they are equally daunting.

Throughout the richest parts of the world, rising debt and aging populations are causing economic instability. In Europe, of course, this problem has developed into a crisis that just keeps getting worse and from which the common currency zone is unlikely to emerge intact. It is only natural to wonder if similar structural economic problems are inevitably driving the U.S. in the same direction.

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My Comment: In certain ways the U.S. is worse off. European personal debt is low when compared to American personal debt. U.S. government obligations .... from pension liabilities to other entitlement programs .... far exceeds what Europe will ever be faced with. Throw in our huge expenditures on the military .... yup .... our financials suck. So .... is Europe’s crisis a glimpse of America’s future? I would have to say that our future may actually be worse.